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v3.25.2

Bank Loans | 12 Months Ended
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Mar. 31, 2025
Bank Loans [Abstract] |
BANK LOANS | Note 12 — BANK LOANS Long-term and short-term bank loans are as follows:
|  | As of March 31, |
|  | 2024 |  |  | 2025 |  |  | 2025 |
|  | S$ |  |  | S$ |  |  | US$ |
Total bank loans |  |  | 3,669,815 |  |  |  | 3,234,199 |  |  |  | 2,405,503 |
Less: current portion of bank loans |  |  | (598,848 | ) |  |  | (400,016 | ) |  |  | (297,520 | )
Long-term bank loans |  |  | 3,070,967 |  |  |  | 2,834,183 |  |  |  | 2,107,983 |
Bank loans comprised of the following:
Loan |  | Principal amount |  | Maturity date |  | Interest rate |  | Repayment method |  | March 31, 2024 |  |  | March 31, 2025 |  |  | March 31, 2025 |
|  |  |  |  |  |  |  |  |  | S$ |  |  | S$ |  |  | US$ |
|  |  |  |  |  |  |  |  |  | Fixed at 1.68% for first 2 years. |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loan I |  | S$ |  |  | 3,270,400 |  |  | July 31, 2030 |  | Subsequent years- 1.30% to 2.00% over the applicable 3-month Compounded Singapore Overnight Rate Average (“SORA”) |  | Monthly repayment |  |  | 1,364,353 |  |  |  | 1,188,377 |  |  |  | 883,880 |
Mortgage loan II |  | S$ |  |  | 1,062,500 |  |  | May 31, 2036 |  | 1.30% to 2.00% over the applicable 3-month SORA |  | Monthly repayment |  |  | 708,010 |  |  |  | 670,829 |  |  |  | 498,943 |
Mortgage loan III |  | S$ |  |  | 887,000 |  |  | March 31, 2031 |  | 1.30% to 2.00% over the applicable 3-month SORA |  | Monthly repayment |  |  | 644,691 |  |  |  | 565,504 |  |  |  | 420,605 |
Mortgage loan IV |  | S$ |  |  | 907,000 |  |  | August 31, 2036 |  | 1.30% to 2.00% over the applicable 3-month SORA |  | Monthly repayment |  |  | 634,075 |  |  |  | 595,455 |  |  |  | 442,882 |
Mortgage loan V* |  |  |  |  | S$1,311,000 |  |  | March 21, 2040 |  | Fixed at 3.00% for first 2 years Subsequent years- 3.00% over the applicable 3-month Compounded Singapore Overnight Rate Average (“SORA”) |  | Monthly repayment |  |  | — |  |  |  | 131,219 |  |  |  | 97,597 |
Term loan I |  | S$ |  |  | 960,000 |  |  | August 31, 2036 |  | 1.30% to 2.00% over the applicable 3-month SORA |  | Monthly repayment |  |  | 70,937 |  |  |  | 66,617 |  |  |  | 49,548 |
Term loan II |  | S$ |  |  | 200,000 |  |  | August 31, 2036 |  | 1.30% to 2.0% over the applicable 3-month SORA |  | Monthly repayment |  |  | 17,248 |  |  |  | 16,198 |  |  |  | 12,048 |
Trust receipts |  | S$ |  |  | 1,000,000 |  |  | N/A |  | Prevailing Cost of Funds plus 1.50% |  | Upon 90 to 120 days |  |  | 230,501 |  |  |  | — |  |  |  | — |
Total bank loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,669,815 |  |  |  | 3,234,199 |  |  |  | 2,405,503 |
| * | Mortgage Loan V relates to the construction in progress, as disclosed in Note 9.
For the years ended March 31, 2023, 2024 and 2025, the effective interest rate of the Company’s bank loans ranged from 1.50% to 4.44%, 3.53% to 6.71%, and 1.68% to 4.98 %per annum respectively. Interest expenses arising from the Company’s bank loans for the years ended March 31, 2023, 2024 and 2025 amounted to S$101,271, S$134,001 and S$160,780 (US$119,584) respectively. The Company’s bank loans are secured by the following — existing first legal mortgages over certain properties of the Company, existing corporate guarantee from a director and shareholder of the Company and an insurance policy as disclosed in Note 8. The maturity dates for the Company’s outstanding bank loans as of March 31,2024 and 2025 are as follows:
|  | As of March 31, |
|  | 2024 |  |  | 2025 |  |  | 2025 |
|  | S$ |  |  | S$ |  |  | US$ |
2025 |  |  | 698,928 |  |  |  | — |  |  |  | — |
2026 |  |  | 468,427 |  |  |  | 490,858 |  |  |  | 365,086 |
2027 |  |  | 468,427 |  |  |  | 484,500 |  |  |  | 360,357 |
2028 |  |  | 468,427 |  |  |  | 483,922 |  |  |  | 359,927 |
2029 |  |  | 468,427 |  |  |  | 483,922 |  |  |  | 359,927 |
2030 |  |  | — |  |  |  | 483,922 |  |  |  | 359,927 |
Thereafter |  |  | 1,723,113 |  |  |  | 1,347,093 |  |  |  | 1,001,929 |
Total bank loans |  |  | 4,295,749 |  |  |  | 3,774,217 |  |  |  | 2,807,153 |
Less: Imputed interest |  |  | (625,934 | ) |  |  | (540,018 | ) |  |  | (401,650 | )
Present value of bank loans |  |  | 3,669,815 |  |  |  | 3,234,199 |  |  |  | 2,405,503 |
The Company’s bank loan agreements contain certain covenants, which require compliance with certain financial ratios. As of March 31, 2024 and 2025, the Company were in compliance with all the financial covenants under its existing loan agreements.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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